Krungthai XSpring

Krungthai XSpring is a full service broker. The company provides a wide range of investment services such as Securities Brokerage, Derivative Agent Business, Securities Borrowing and Lending, Securities Trading, Underwriting, Financial Advisory, Wealth Advisory, Private Fund Management and International Markets Securities Trading. 

In terms of credibility, Fitch Ratings has assigned Krunghtai XSpring a long-term rating of AA- and a national short-term rating of F1+ with stable outlook.

A full service Thai brokerage

Head of Research, Krungthai XSpring

Waraporn Wiboonkanarak

Head of Research

Equity Bottom-Up

Wha Industrial Development / Equity Bottom-Up

<ul><li>We recommend buying WHA, as the firm is expected to benefit from the growth in foreign direct investment (FDI); the value of FDI projects approved by the BoT expanded by 17.43% YoY to Bt149bn in 1H22.</li><li>WHA revised up its land sales growth target in Thailand and Vietnam in 2022E by 32.00% to 1,650 rai, with land sales in 1H22 accounting for 31.09% of the full-year target.</li><li>Moreover, the firm just closed a deal to sell 600 rai of land to BYD in 3Q22.</li></ul>

We recommend buying WHA, as the firm is expected to benefit from the growth in foreign direct investment (FDI); the value of FDI projects approved by the BoT expanded by 17.43% YoY to Bt149bn in 1H22.WHA revised up its land sales growth target in Thailand and Vietnam in 2022E by 32.00% to 1,650 rai, with land sales in 1H22 accounting for 31.09% of the full-year target.Moreover, the firm just closed a deal to sell 600 rai of land to BYD in 3Q22.

Wha Industrial Development

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